Personal Investor: Mobile banking report puts big banks to shame
Canadians love to bank on the go. And where the big banks have failed to step up, the small banks are stepping in.
A new report from Surviscor ranks Canada’s mobile banks in five categories: getting connected before you log on, usability after login, educational tools and resources, support, and the actual transaction experience.
CIBC ranks first and Scotiabank remains in the top three, but the presence of little-known mobile bankers make top spots tenuous. Even Tangerine, formerly ING Direct, lost its top ranking and dropped to fourth.
Smaller players like Coast Capital Savings, Meridian Credit Union, ATB and Vancity trump old established banks TD Canada Trust and BMO Bank of Montreal.
Here’s how they rank now, how they score, and how results compare with the 2015 ranking:
2017 Canadian Mobile Banking Review
|Bank, Ranking||2015 Ranking|
|National Bank, 88%||3rd|
|PC Financial, 67%||new|
|RBC Royal Bank, 62%||4th|
|Coast Capital Savings, 58%||6th|
|Meridian Credit Union, 56%||new|
|TD Canada Trust, 50%||8th|
|Alterna Savings, 47%||new|
|Blueshore Financial, 47%||new|
|BMO Bank of Montreal, 46%||10th|
|Canadian District Financial 42%||new|
Editor's Note: An earlier version of this article incorrectly stated Tangerine was formerly PC Financial. In fact, Tangerine was formerly known as ING Direct. BNN regrets this error.